Bupa Arabia, GAZT reach SAR 120.1 mln settlement agreement

Bupa Arabia for Cooperative Insurance Co. announced today, Feb. 21, 2021, reaching a final settlement agreement with the General Authority for Zakat and Tax (GAZT), concerning Zakat and income and withholding tax claims for the years 2008-2016 and 2018, at a total value of SAR 120.12 million, according to a bourse statement.

The settlement is not expected to have a material financial impact on its financial results, the company said, adding that most of the assessed differences have already been accounted for previously.